Crisis Management Plans and Strategies for Businesses

Assignment Task

1. Crisis Manager You need to research and provide the first steps your company needs to take in case of crisis. For example, first you need to explain what potential challenges the company can face once it starts operating.

• What are the most possible challenges within the first year?
• How to avoid these challenges (you need to mention and explain in detail at least three main challenges)?
• What are the three scenarios for the first year (optimistic, realistic, pessimistic)? How to avoid these challenges? Please, include all the stakeholders required at this step.

2. Financial Manager You need to research and provide the first steps your company needs to finance the business and maintain it at a profitable level.

• What are the main expenses your company has to start the business?
• What is the potential revenue stream for the first year?
• What are your variable and fixed costs? How do price the products/services properly to get the breakeven in the first year? If that is not possible, please, explain when it is possible and how?
• What are the sources of finances (please, provide all possible options with explanations according to your business activity - for example, grants, banks, etc.). Please, include all the stakeholders required at this step.

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